The Edmonton Oilers have re-signed restricted free agents Devan Dubnyk and Jeff Petry to two-year contracts, the team’s official Twitter feed announced Thursday afternoon. Dubnyk has spent the last two seasons splitting time with Nikolai Khabibulin in the team’s net, while Petry emerged as a full-time NHL defenseman in 2011-12 after splitting 2010-11 between the Oilers and the AHL’s Oklahoma City Barons.

Dubnyk’s contract will see him earn $3.5 million/season over the two years of his deal. Oilers radio analyst Bob Stauffer noted that the deals recently signed by goaltenders Tuukka Rask and Cory Schneider were comparable. Rask recently signed a one-year deal with the Boston Bruins worth $3.5 million, while Schneider’s three-year deal with Vancouver comes with an annual cap hit of $4.0 million per season. Schneider posted a 0.937 SV% last season, Rask a 0.929 SV%. Dubnyk, in contrast, posted a 0.914 SV%.

Dubynk has played 101 NHL games over his career, all of them coming in the last three years. In 2011-12 he established himself as the Oilers starting goaltender with a strong late-season run that relegated veteran Nikolai Khabibulin to the backup position. His career save percentage is 0.910 and he has bested that total in each of the last two seasons. Dubnyk’s save percentage ranks 22nd of the 44 goaltenders with more than 50 games played over the last two years. Despite his relatively low rank on the list, Dubnyk’s performance compares favourably with some of the most heralded goalies in the game:

The new contract will carry Dubnyk through his 28th birthday, which will make him an unrestricted free agent at the end of the deal under the conditions of the current collective bargaining agreement between the NHL and NHLPA.

Petry’s deal is for exactly half as much as Dubnyk’s, with an annual cap hit of $1.75 million. Petry played 73 games for the Oilers last season, scoring twice and adding 23 assists. He played in all situations and led the Oilers’ blue line in ice-time per game, averaging 21:45 each night. Despite that distinction, he will be the Oilers fifth-highest paid blueliner in 2012-13,with an identical cap hit to third-pairing defenseman Andy Sutton.

As one of the core pieces of the Oilers’ rebuild, Petry will be expected to improve dramatically over the course of this deal. His 25 points in 2011-12 represents a five-fold improvement on the five he recorded as a rookie, and he has been a significant offensive contributor at every level. The 24-year old can reasonably be expected to bring additional offense to the team, even as he rounds out his defensive game. He is expected to reprise his role on the Oilers’ top pairing alongside Ladislav Smid once again this season.

Petry will be 26 years old at the conclusion of his new contract, meaning that he will become a restricted free agent once again in the summer of 2014.

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